Housing market/New Jersey/ZIP 07042
ZIP 07042 Montclair, New Jersey
Newark, NJ HUD Metro FMR Area · New Jersey. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 07042 · NJ — sent to you.
ZIP 07042 · NJ
ACS rent vs 2BR SAFMR
ZIP 07042 — Montclair, NJ HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 07042
- 1-unit detached4,58139.2%
- 1-unit attached4824.1%
- 2–4 units2,74723.5%
- 5–49 units2,80724.0%
- 50+ units1,0619.1%
2–4 unit share 23.5% · 5–49 unit share 24.0% · combined 2–49 47.5%.
Units by bedrooms
Rent burden
- ACS median gross rent $2,017 (all bedrooms, occupied rentals).
- Median contract rent $1,884.
- Renters paying ≥30% of income 46.8%; ≥50% 28.5%.
- FY2027 2BR SAFMR $2,940 (1.458× ACS median gross rent).
Population
27,173 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +4.4%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 4 projects, 167 units.
- HUD project-based assisted MF: 7 properties, 409 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 2,942 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 07042 49.7% of occupied households are renters; vacancy is 5.3%; ACS median gross rent is $2,017; population increased +4.4% between the 2018 and 2023 ACS vintages; the housing stock includes 2,747 units in 2–4-unit structures and 2,807 units in 5–49-unit structures; 4 LIHTC projects totaling 167 units; FY2027 2BR SAFMR is $2,940 versus ACS median gross rent of $2,017. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
New Jersey research
ZIP 07042 is a Census / HUD profile for Newark, NJ. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 07042 — Montclair, NJ HUD Section 8 Payment Standards / SAFMR·New Jersey ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is New Jersey research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 07042?
ZIP 07042 (Newark, NJ HUD Metro FMR Area) has 27,173 residents, 11,067 households, a renter share of 49.7%, median household income of $127,083, and ACS 2023 median gross rent of $2,017. Vacancy is 5.3%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 07042?
ACS counts 1,473 units in 2-unit buildings, 1,274 in 3–4 unit buildings, 1,036 in 5–9, 821 in 10–19, and 950 in 20–49. Combined 2–49 unit stock is 5,554 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 07042?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,940. See the full schedule and 90–110% payment-standard band on the ZIP 07042 — Montclair, NJ HUD Section 8 Payment Standards / SAFMR.
Does this New Jersey ZIP profile include Georgia listings?
No. ZIP 07042 is Census / HUD research for Newark, NJ HUD Metro FMR Area. Jeff Crowe CRE does not list New Jersey property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.